How to 'Buy American' in Europe

With the euro zone economy shrouded in uncertainty, UBS is advising clients to look at European stocks with strong exposure to the United States.

Strategist Nick Nelson says the weakness in the euro caused by fears over the so-called PIIGS (Portugal, Ireland, Italy, Greece and Spain) has made it easier for some European companies to make money in the US as exports become cheaper.

The UBS economics team believes that the US economic rebound in the fourth quarter was no flash in the pan. As a result they now expect the world's biggest economy to significantly outperform the euro zone over the coming months.

Nelson says a similar dynamic is at work with UK firms given the pound's recent weakness and suggests buying the following stocks, listed in the UK and in the euro zone: